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Mortgage issues undervalued HELP!
Hello! I am a first time buyer me and my fiancee are currently half way through buying a 1 bedroom apartment in nice area on central line. All was going smoothly after being in sort of a bidding war got the flat for £228,000 which after seeing property on the same estate sell for that a week earlier thought this seemed…
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Mortgage, savings and debt
Basically I'm looking to get a mortgage, possibly towards the help to buy scheme. Now my question hopefully in the right section is, I've currently got 2500 saved with 500 going in each month to savings. I'm paying off a credit card with a balance of 3900 paying £200 a month currently. 0% interest. And lastly a loan with a…
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How will 7k debt affect remortgage
Started a mortgage when we bought house last September. 150k mortgage on 250k house. It was a 3% fixed for 2 years with NatWest. About 6 months ago I bought a car for 7k on a credit card 0% for 15 months and have only paid a bit of it off. Next year I am going to be looking to remortgage. How will this 7k debt affect this…
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Full mortgage application with bad credit
My partner at I have an AIP with Precise, due to my poor credit history. We have found a property we like based on this and made an offer, which has been accepted. My question is- at what point should we move forward with the solicitor? I am aware there is a chance we might not be approved for a mortgage when we do the…
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Should I care at all about the revert rate when choosing a fixed rate mortgage?
Hey guys, Hoping you can help! I'm researching the best 5 year fixed rate at 80% LTV and weighing up the pros/cons of the various available deals. When searching on Money Supermarket they report a 'revert rate' for each mortgage, ie the interest rate we'll be paying after the fixed period ends. My question is: should I…
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Quick query .....
Does it matter to the estate agent what your LTV is? I ask because our broker recommended that the mortgage is put in my partners name only (due to my credit history). However, when we intially enquired about the property we said we had 10% deposit. Now it's just in my partners name then really he only has 5% (his savings)…
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Mortgages How far back do they check?
Any help gratefully received. Me and my partner are currently renting our house but have the opportunity to buy it. Unfortunately due to rent and childcare costs etc we have had no spare cash to save for a deposit but our circumstances are now starting to change (daughter going into full time school etc) the trouble we…
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Morgage Rate - How much % should we allow for in our budgeting for the future rises?
I realise some of this is crystal ball stuff. But we are currently looking at new houses, thus an additional mortgage (porting some existing) and adding more. Like most people we are working out our future budget, and without wanting to be foolish, I realise that rates will probably go up a couple of percent over the next…
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Potentially combining 1st and 2nd charge mortgages in future
Hi, Just wondering if anyone can provide a bit of advice. I have been investigating re-mortgage to include my unsecured debts. My current mortgage has around £100k outstanding and 25yrs left. I was considering adding £30k of unsecured debt to this against the property value of around £190k. I have been advised from initial…
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I want to make this as easy as possible...
Thanks for help
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Renovation on Mortgage
We have seen a property that is the perfect size and in a good location. It is, however, very dated and needs work. It does need a new kitchen and bathroom. We want to put an offer in, however we wanted to know whether it was possible to lend more on your mortgage for renovation? We have a DIP and the amount we want to…
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Mortgage insurance
Apologies, I'vea already posted this on the insurance board, but not sure if it's more relevant here: Hi all, Just interested to get other people's opinions on what they'd look at it in my circumstance. I'm just taking out my first mortgage (£114k), I'm 35, single and earn £36k. I have two children (eldest is step son) who…
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BTL Assured Tenancy Proof
Hi, If I was to buy a BTL property, what proof would be required of tenancy? If after 1 year I decided to let it on a series of short term lets, do I still need to provide evidence to the mortgage lender, or will they be happy as long as they receive payment each month? For example if I let the rooms separately at a later…
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Releasing equity from current property to buy a BTL
Hi all Hoping you can help - I've started a specific thread as I have quite specific circumstances- I have a property valued at around 235k with a 135k mortgage I want to release the 100k equity in order to buy one or two BTL properties Eg 40k deposit against two free holds valued at 120k each thus giving me 30% deposit…
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Buying a holiday/second home...
I'm not sure where to begin - I own my home outright and I've always planned to sell it in about 15 years' time and use the proceeds to buy my retirement home (which will cost less than the value of my current home) on the coast. I've been toying with the idea of buying a property now (will need a mortgage) and perhaps…
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Mortgage Virgin Advice Appreciated
Hey all, I am after some advice on the nest first steps to getting a mortgage with my partner. I have tried searching the board to see if I could find a similar situation but as there are a few complications thrown in (and I am a mortgage virgin!) I am struggling, so I was hoping someone with more experience may be able to…
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Nationwide interest rate calculation
Hello everyone, we have a mortgage with Nationwide. We plan to make overpayment 10% fine free overpayment on it. To schedule the righttiming where in the mortgage documents exactly should i check how the interest rate is calculated - yearly, daily, etc? when we applied we asked for a daily calculation mortgage but what…
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Deposit in husband's account - Nationwide
Hi, I am on spouse visa and I just got a DIP from nationwide. I am sole applicant (I can't add my husband as his credit history is not good) Our DIP is based on fulfilling the following requirements: 1. Deposit from my own resources ONLY 2. Visa copy 3. Most recent payslip 4. 1 month bank statements We have everything…
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Remortgage and change current account
Hi all We're currently in the process of extending our property and are looking to remortgage. We currently have an offset mortgage which all income gets paid into, but are looking to get a fixed rate deal. If we do this we'll also need to set up a new current account, and i'm assuming we'll also only be able to get the…
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Help to buy questions
Hello, I have a help to buy question. I'm looking at a new build, £215,000. I have £30,000 specifically earmarked for a deposit. I save on average around £500 a month and currently rent at £600 a month. I'm thinking of using the help to buy scheme with a 5% deposit then either immediately pay off £30,000 from the mortgage…
